Business News - January 2011

VOLUME 26, NUMBER 1, 0834-2011

JANUARY, 2011

Welcome 2011 Chair Jo Mark Zurel

IN THIS ISSUE:

•Business Excellence Awards •A peek at Outlook •Marketing essentials

Contents IN THIS ISSUE Business News is a monthly publication of the St. John’s Board of Trade.

Reproduction of any material contained in Business News is permitted provided written approval from the St. John’s Board of Trade.

Articles and criticisms are invited, but opinions expressed by contributors do not necessarily represent those of the St. John’s Board of Trade.

We encourage you to support the business leaders whose names and products you see advertised in this issue as well as throughout our entire membership. The Board reserves the right to edit submissions.

Editor: Printed by: Layout:

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CHAIR’S MESSAGE FEATURES

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KEEPING CURRENT

Alisha Morrissey British Group of Companies Roxanne Abbott

ST. JOHN’S BOARD OF TRADE EXECUTIVE Jo Mark Zurel Steve Power Denis Mahoney TBA Derek Sullivan Sherry Walsh

COVER STORY

MEMBERSHIP

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Chair Senior Vice-Chair First Vice-Chair Second Vice-Chair Immediate Past Chair Secretary-Treasurer

BOARD OF DIRECTORS Kim Keating Jerry Kirkland Jeff LeDrew Margot Bruce O’Connell Brenda O’Reilly Celina Stoyles

STAFF Paul Thomey Jennifer Ryan Shari Palmer Margie Davis Alisha Morrissey Craig Ennis

Wanda Palmer

Sherry Ryan

Chief Executive Officer Controller Business Affairs Manager Sales Manager Policy Research Analyst Vice President of Policy and Communications Events Marketer & Administrative Coordinator Member Relations Administrator

St. John’s Board of Trade 34 Harvey Road P.O. Box 5127 St. John’s, NL A1C 5V5 Canada Tel: (709) 726-2961 Fax: (709) 726-2003 E-mail: mail@bot.nf.ca Website: www.bot.nf.ca

Business News

January 2011

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Cover Story meet Jo Mark Your new Chair isn’t all business

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o Mark Zurel doesn’t like talking about himself, but he will for the right cause.

Jo Mark, a South African native, who made his name in the helicopter business, says his new position as the Chair of the St. John’s Board of Trade is one of those good causes.

After pulling up in his Porsche Carrera and insisting that he pay for the Saturday morning coffees, one could jump to the conclusion that this is a man who talks about himself incessantly. But while sipping a latte in his green South African rugby jersey in the early quiet of the cafe, Jo Mark seems physically uncomfortable with explaining how he came to live in the city he now loves so much and his family’s volunteer and extracurricular activities.

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“I really think we have a unique opportunity here with the oil revenues that we have coming in now, to create an environment where business is going to thrive. (To) build the prosperity of this province, which leads to us being able to afford the high quality services that we appreciate.”

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“I have three children and I want this place to be a better place for them … and I really think we have a unique opportunity here with the oil revenues that we have coming in now, to create an environment where business is going to thrive. (To) build the prosperity of this province, which leads to us being able to afford the high quality services that we appreciate.”

Jo Mark puts on and takes off his rimless 2

Jo Mark Zurel, President of Stonebridge Capital Inc., is your new Chair at the St. John’s Board of Trade. – Photo by Alisha Morrissey glasses a few times, trying to find just the right phrase to describe his passion for business or the City of St. John’s and the province of Newfoundland and Labrador.

People aren’t just friendly here, he reasons, they want to be your friend.

Jo Mark has dual citizenship with Canada because of his mother’s Cape Breton roots. He came here to study at Dalhousie University and while studying to be a chartered accountant, met his wife, Lynn (Sullivan), a St. John’s native. It wasn’t long before he moved to the island himself.

Now, his wife and three teenage children – Heather and twin boys, Michael and David – are completely “embedded” in St. John’s and its culture, he says, noting that he’s now been living in Newfoundland longer than anywhere else.

“I have become (embedded too) because of the people, the culture, the way people stick up for one another, the way they care about the community. All of the stuff that makes the public policy stuff fun and challenging are the reasons why I love this place,” he says. “We have an opportunity January 2011

to do something really great here. But on the flip side of the coin there’s an opportunity to not do as well and look back with regret. I want to do my part to try to make this a stronger place.”

It’s the commitment to making this place better that led Jo Mark to many of his volunteer positions, including sitting on the boards of the Newfoundland and Labrador Angel Network, the Atlantic Provinces Economic Council and Junior Achievement, as well as chairing a Capital Campaign for the Red Cross. Children and education are priorities in his volunteer service, Jo Mark says, adding that he particularly enjoys working with highquality non-profit organizations that have built capacity by mobilizing large numbers of capable volunteers.

Closest to Jo Mark’s heart though is mentoring new businesses and in particular, young business owners.

“I’ve had amazing mentors in my career, people like Craig Dobbin and Sylvain Continued on page 4...

Business News

Chair’s Message Introducing 2011 chair Joining the St. John’s Board of Trade was an opportunity for me

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ure it was a chance to network for business and make some new friends.

There was certainly a possibility of talking deals at a luncheon table, rubbing elbows at a business mixer and learning a little about the way the city and province works on a policy level.

And while all those things have been valuable parts of my membership, the real reason I joined the St. John’s Board of Trade was to make a difference. To have some impact on the business climate and possibly, even the political and social environments my kids would inherit.

I believe we’re at a time of great opportunity in this place. From this position, we can build a better, stronger, more robust city and province out of oil revenues and current success.

That’s my priority in all of my roles, including my work with Junior Achievement Newfoundland and Labrador, Red Cross and Atlantic Provinces Economic Council – to do better for the next generation. At the Board I will work diligently to give young business owners and their families the opportunities they deserve.

I’m thrilled to be given this leadership role at such a shining moment. It’s a substantial opportunity, and one I hope to make the most of.

With your help, I’m confident we can do great things.

One of the ways I’d like to achieve my goal of building a better place is through co-operation.

Relationships are one of the cornerstones success is built on and there is one relationship in particular I’d like to work on in the coming year.

During my tenure I’d like to extend the hand of business to our partners in government and labour organizations. I believe that the three groups are not mutually exclusive. Rather, we are inextricably linked, and should work together as such.

A business flourishes due to the efforts of healthy, happy workers and government

Business News

Chair, Jo Mark Zurel can’t operate without revenue streams like those created by business.

Another idea I believe will help us improve the overall lot of this place, is diversification.

I’d like to convince governments that all our economic eggs shouldn’t be in one or two natural resource-based baskets.

I’ve talked publicly in recent days about the fact that we’re thriving now based on work done nearly 20 years ago to kickstart the oil industry. We have to continue that good work so the opportunities we have today don’t dwindle for the next generation, but build a strong platform for future prosperity.

I want to take this year to advocate strongly on behalf of business, sure, but more importantly, the people who own and run businesses, their employees and all of their families.

The coming year will be an interesting one, as we will have a provincial election in the fall, and perhaps even a federal election. We’ll hear more details about Muskrat Falls, we’ll keep an eye to the changes in oil prices and the value of the dollar.

For the Board of Trade, we will say goodbye to outgoing directors who have served our membership well and welcome new directors who bring fresh ideas and January 2011

perspective to our growing network. At the St. John’s Board of Trade we are blessed with a tremendous group of capable volunteers and an excellent team in the office.

So I am confident that we will make a difference.

And though I’m quite excited about the future, I have to take a moment to look back too. I’d like to thank the chairs I served under the past four years - Derek Sullivan, Bruce Templeton, Donna Stone and Cathy Bennett. They have been tremendous leaders and I have learned so much from them.

Throughout the last year, Derek’s efforts on behalf of all Board members has helped us move forward our mandate of being a progressive and successful advocacy organization.

I hope to continue that trend during my own term as Chair.

Finally, I’d like to wish all our members, volunteers, staff and their families a healthy and happy new year full of joy and success. I look forward to working with you all in the coming months.

Jo Mark Zurel is a Chartered Accountant and President of Stonebridge Capital Inc., an investment company. Until recently, Mr. Zurel was Senior Vice-President and Chief Financial Officer of CHC Helicopter Corporation, helping to build it into the world’s largest helicopter operating company. He’s also a director of Major Drilling International Inc. and Newfoundland Power Inc., director on the board of Fronteer Gold, as well as a board member of several private companies. Mr. Zurel holds a Bachelor of Commerce degree from Dalhousie University.

Mr. Zurel’s not-for-profit activities include chair of Junior Achievement of Newfoundland and Labrador and governor for the Newfoundland and Labrador Business Hall of Fame. He is also governor of the Atlantic Provinces Economic Council, chair of a Canadian Red Cross fundraising campaign and board member with the Newfoundland and Labrador Angel Network (NLAN).

-Photo by Randy Dawe

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Cover Story meeting the man Continued from page 2...

Allard, who have given me the opportunity to get out there and make mistakes and learn on my own and not be afraid of really big business deals. So I’ve built my business experience as a very young guy on an international scale and it’s because of my mentors. So here I am where the business success has allowed me to do a lot more community work,” he says.

“I have been very, very lucky and I do want to be intellectually stimulated. I enjoy business, I enjoy young people and I get excited about seeing progress. I have the experience, I have the time and I can’t think of anything I would rather be doing.”

But volunteerism runs in the Zurel family, he says, pointing out that his wife is also active in the community, doing work with their childrens’ school and sports organizations and his children also volunteer their time, coaching hockey and working for community organizations.

“They’re sensible caring people,” he says of his kids. “Priority No. 1 is family and children. …When I’m not working or volunteering, it’s all family.”

When they’re not volunteering, the family travels extensively in the summers and they take long hikes and like to camp and fish. Jo Mark and Lynn like watching their daughter’s dance recitals and Tae Kwon

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Do tournaments and their sons’ All-Star hockey games.

Jo Mark, in his rugby jersey, admits his rugby-playing days are a distant memory, though he likes to watch the Rock beat teams from across Canada at St. John’s Swilers Rugby Club.

But Jo Mark quickly steers the conversation back to work, hitting on one of his biggest priorities for his term as Chair of the Board – co-operation.

Business, government and labour need to keep working to build better relationships, he says, pointing out that the three have many similar goals anyway and should work together to achieve them.

“We all want to enjoy the benefits of a prosperous community,” he says.

“Business can’t succeed without good employees, happy, content, well-paid, well-supported workers. Workers benefit from having successful employers, and the public service can’t exist without a sustainable source of revenues. It all goes together, right.”

- Alisha Morrissey

January 2011

Jo Mark Zurel A chartered accountant with a Bachelor of Commerce from Dalhousie University, Jo Mark Zurel has multiple careers and volunteer associations. He’s been written about in Forbes Magazine and was honoured as one of Canada’s Top 40 under 40 in 2000.

Career: -

President of Stonebridge Capital Inc. Member of the board of directors of Fronteer Gold Member of the board of directors Major Drilling Group Member of the board of directors of Newfoundland Power Past Senior Vice-President and Chief Financial Officer of CHC Helicopter Corporation

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Current volunteer activities: -

Immediate Past Chair of Junior Achievement of Newfoundland and Labrador, and Chair of the JA Newfoundland and Labrador Business Hall of Fame Organizing and Laureate Selection Committees

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Chair of the Red Cross Capital Campaign

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Governor of the Atlantic Provinces Economic Council

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Founding member of the Executive of the Newfoundland and Labrador Chapter of the Institute of Corporate Directors

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Member of the Board of Directors of the Newfoundland and Labrador Angel Network (and active angel investor)

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New Chair of the St. John’s Board of Trade

Business News

Feature rebranding and a motivated internal culture ready to embrace it. The rebrand must complement the expectations of your target market, advancing your brand conversation, while further distancing you from your competition.

Get it right and you’re in the spotlight, basking in the warm embrace of your target audience. Get it wrong, like the Gap, and you get to experience a very costly and very public comeuppance. But the world of rebranding is fraught with missteps (New Coke, anyone?) and it takes an expert hand at the helm to guide the project home.

You first need to understand who’s driving the change. Is it internal? Is it your competition? What is so different now that

The art of the rebrand

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he story of a company’s brand can be a fairly compelling narrative.

The best brands have not only the most interesting stories, they are the most relatable. We see something of ourselves in them, or at the very least, how we envision we would like to be. We can’t really explain ­­­­­­­why this is: defining oneself through a shirt, a smartphone or a car. But we do. Most times without really knowing it.

Over time, brand stories can get a little stale. Sometimes they run out of things to say, or what they are saying is out of touch with their market targets. Sometimes they are reaching out to the wrong audience or framing their story such that no one wants to listen. Most times however, they just need a reboot. A creative kick in the pants. Repackaging. Repositioning.

Reinvigorating. In other words, a rebrand.

Think of a rebrand like a home renovation. Sometimes to make things right, all that’s required is a good lick of paint. Other times, moving a wall or expanding a room might be required. And then, sometimes you just have to rip the guts out of it, right down to the bare bones and build it up again.

The decision to rebrand should never be entered into lightly. Depending on

Pat Mackey is partner and creative director of DRAY Media. what you intend to achieve, it can be a potentially costly process affecting every aspect of your company. To guard against the pitfalls, here are some things to bear in mind. You should be certain of your goals in rebranding with a strategy in place to execute. You must be sure that you have the resources to implement the rebrand

“ ” “And then, sometimes you just have to rip the guts out of it, right down to the bare bones and build it up again.”

you feel compelled to react? Understanding this impacts on how you execute the redevelopment since it forces companies to understand what they want, as well as what they would like the rebrand to work towards. This feeds a goals-oriented process, which is essential to effective rebranding.

Translating these goals across every touch point of the customer or client experience requires an unparalleled measure of consistency if it’s to relate directly to your target audience and not everyone in general. People buy into brands that personally resonate with them. When brands stay true to themselves and their promise to consumers, they thrive.

Pat Mackey is partner and creative director of DRAY Media. To learn more, visit www.draymedia.com.

Business News

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Gardiner Centre Connects a year of connections The Gardiner Centre Connects has been linking readers with research insights, practical advice and programming updates emanating from the Faculty of Business Administration.

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opics have ranged from the challenges in mobile data search and retrieval, options for the transportation of hazardous materials, commentary on mandatory retirement and workplace harassment and other leadership and business start-up advice.

Given this issue’s theme of “Year in Review,” in this installment we will take some time to share other ways in which the Gardiner Centre has been connecting individuals and businesses over the last year and how this will continue in 2011.

During 2010, the Gardiner Centre has been very active connecting the business community with the latest in management and leadership practices through its training initiatives. In addition to its calendar of open enrolment programs, and customized delivery of topics for client organizations, the Gardiner Centre has worked with its partners to develop and deliver new and existing programs of interest.

Some programming highlights of the last year include another successful offering of the Masters Certificate in Project Management and Gardiner Centre’s first ever delivery of the Masters Certificate in Business Analysis offered in partnership with Schulich Executive Education Centre, York University. Another success has been the Public Sector Leadership and Management Development Program, designed to address the core leadership competencies identified by the federal and provincial governments, and now experiencing renewed demand and interest.

Two other program developments, designed in response to client needs, were the Certificate of Achievement in Human Resource Development and the Social

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all while being mentored by seasoned Certified Management Consultants.

Looking forward to 2011, the Gardiner Centre plans to further connect client needs with the expertise and experience of the faculty’s instructors and other business leaders and educators. Two exciting areas we will explore in 2011 and beyond are the potential establishment of an Advanced Management Program (AMP) for middle managers and the possibility of online offerings from the Gardiner Centre. We hope that these initiatives will help position the Gardiner Centre as the destination for your management development needs at every step in your career, while acting as a resource to business leaders across Newfoundland and Labrador.

Moving forward, Gardiner Centre Jordan Wright, Manager of Programs, Connects will continue to connect you with Gardiner Centre the Faculty of Business Administration, but it will be changing its delivery format.

Media & E-Marketing Certificate. Both Instead of a monthly column in the certificates have experienced high demand Business News, it will instead appear in and offer participants recognition for the theme-related issues throughout the year. completion of a series of professional You can however continue to Connect with development in these focused practical the Gardiner Centre and the Faculty of areas.

Business Administration as we transition Aside from training and professional Gardiner Centre Connects online to development, the Gardiner Centre has also the Gardiner Centre’s new LinkedIn been connecting through its events and community group in early 2011. consulting services.

It has been quite a successful year In April, the Centre was part of a panel of connections between the Faculty discussion in partnership with Memorial’s of Business Administration and the Alumni Affairs and Development community it serves. We look forward Division on the changing workplace, with to making many more connections in the emphasis on the emerging topic of the coming years, and encourage you to “Get multigenerational workforce.

AMPed” with the Gardiner Centre in 2011!

In November, the Centre partnered with the local chapter of the Project Jordan Wright is the manager of programs Management Institute (PMI) to deliver the at the Gardiner Centre, responsible for the fourth Project Management Symposium, Centre’s marketing efforts, public events which focused on adapting project and student consulting services. Jordan leadership. has also completed research examining Finally, through its student consulting the customer experience, with particular services, the Centre has been successfully focus on retail environments. Connect connecting student learning with small with Jordan at jordan.wright@mun.ca to business needs. These student consulting learn more about the Gardiner Centre’s projects offer the Faculty’s students the programs or to receive updates on the opportunity to apply their academic Gardiner Centre’s upcoming social media knowledge to actual strategic challenges spaces. experienced by small and medium sized organizations in the local community; January 2011

Business News

Feature marketing essentials The one thing your company needs for successful marketing

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here seems to be only one secret when it comes to creating a great marketing plan.

No matter how big your company is, whether you’re starting-up or well-established, local marketing companies say the secret to good marketing is getting to know your customer.

“Focus,” says Kevin Casey, The Idea Factory’s self-proclaimed chief idea officer, summing up in one word what businesses need to sell themselves or their products.

“The people who say, ‘I’m for everyone, adults 19 plus,’ it’s a Kevin Casey of kiss of death because The Idea Factory there’s more opportunities than resources,” he says.

Sean Charters, responsible for strategic and creative direction at Colour, says it’s sometimes tough to tell the client that the customer is the most important part of the process and not the product.

“Once we’ve done that, the work becomes a lot easier,” Charters says, explaining a company knows business, but it’s up to firms like his to know the customers.

Getting that step back from the “nuts and bolts” of someone else’s business also helps marketing firms figure out how to sell a concept to consumers, rather than a product, Charters says.

For instance, Colour’s successful recruitment campaigns for engineering firm Technip, showing high-skilled workers in rugged Newfoundland landscapes – like a suited man skipping rocks at a blustery beach or a couple studying a laptop at St. John’s Harbourside Park. Technip could have sent out job ads across the country, but instead the ads speak to the group Technip wants to reach by offering an exciting life outside of work hours.

“We also don’t think that we have a monopoly on great ideas. We work closely

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Sean Charters of Colour with a client and we think the best work comes out of working with a client,” Charters says.

Christa Steeves, partner at Spark Marketing, says everyone in the marketing industry is talking about how quickly the business is changing – especially with social media tools – but the basics remain.

“Too often clients will move to I need a brochure, I need a website, I need a Facebook page, and you may need some combination of those things, but first you have to determine where do I want to go,” she says.

“Understand your consumer, and I don’t just mean who they are, because who they are is often the easy part. … But how to really get inside their headspace and into their hearts as to what makes them tick.”

Step two, she says is overall creativity.

“If you’re still going out there with vanilla messaging and vanilla content it doesn’t matter that you’re actually in the right channel,” she says, using words like surprising, innovative and unique, to describe campaigns that resonate to consumers.

The one misconception about marketing Charters would like to change is that it’s an expensive part of running a business.

He says he’s like a good tailor asking how much the client wants to spend on a fine suit. The suit or marketing plan could be made of cotton or silk, but it’s not going to be made any less skillfully.

“A lot of people think they can’t afford

January 2011

marketing …whether you have $100, $1,000 or $100,000 come and talk to us because what we would say is we cut the cloth accordingly,” Charters says.

The Idea Factory itself is a success story of good marketing with no budget, Casey says, pointing to the early days when the company didn’t have enough in the bank to buy $500 ad.

Christa Steeves of Spark “What we did … was tried to get people who really liked us to talk about us even without them knowing they were even doing it,” he says. And that’s when the company became a brand.

“There’s this weapon called PR that costs nothing. And if you’re different than your competitors then you’re newsworthy.”

- Alisha Morrissey

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Feature year in review Reflecting on 2010

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his past year has been one of growth for the St. John’s Board of Trade.

Our membership has never, in the Board’s 30 year history, been stronger. We exceeded our expectations by reaching the 800 member mark, a new high in the Board’s history.

Our events team was hard at work in 2010, averaging about four events a month.

We hosted a variety of events to appeal to a broader audience. From our highly entertaining and fun events with The Idea Factory, Republic of Doyle, and the Amazing Membership Race to our more formal events with prominent figures such as former Premier Danny Williams, Bank of Canada deputy governor Timothy Lane, and Nalcor President and CEO Ed Martin, our events were well-received.

From a policy perspective, in 2010 members saw rigorous advocacy efforts.

This year, our committees worked to advocate on your behalf on key issues affecting the province and city. Highlights included meeting with provincial government ministers on various issues brought forth by our members. We advocated on issues like economic diversification, debt reduction, minimum wage, and a new landing system at the airport, to name a few.

Continued on next page...

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Don’t settle for a forced fit.

Try something different. sparkmarketing.ca

January 2011

Business News

Feature the year ahead And we had strong involvement in city finances and development activities to make sure that the business climate is strong in the capital.

This year was a positive step forward for the St. John’s Board of Trade. We constantly push ourselves to improve our advocacy efforts, publications, events, and member value.

Outlook for 2011

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his year, St. John’s Board of Trade, is going to do what we do best … but better.

As the principal voice of business in St. John’s, and a voice for business across Newfoundland and Labrador, we’re committed to our mandate and anxious to get to work for you in the New Year.

On the policy side, we’re continuing to expand our advocacy efforts to all areas of government, ensuring that businesses have the right environment to succeed.

We’ll focus on economic diversification and sustainability. Controlling spending of our municipal and provincial governments, and engaging in debate and discussions on the 2011 provincial election and potential federal election.

In the coming year, we will continue to provide opportunities for our members to save money through our affinity programs and, our events team has made it their goal

Business News

to consistently attract top-notch speakers who will bring interesting discussion to our luncheon tables.

In Business News, you can expect to see an increase in original content that provides valuable information from a political, economic, and social viewpoint.

As a Board of Trade member, we will offer you many opportunities for your company. Take advantage of advertising or writing a feature article in Business News, attending one of our many luncheons, or promote your business at our fun and diverse business mixers.

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We hope you engage our policy team and various committees on issues that your company is facing in the coming year as our advocacy and research efforts rely on your key input.

The St. John’s Board of Trade provides a unique opportunity to network, advertise, and advocate with over 800 businesses, 1,200 corporate contacts, and 30,000 employees. Let’s continue to utilize these opportunities and make 2011 a year of growth, prosperity, and success for all in the business community.

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Keeping Current policy matters Board discouraged by 2011 City budget The St. John’s Board of Trade is disappointed with the City of St. John’s 2011 budget. The Board has repeatedly warned against the troubling growth in spending by the city and had hoped to see this budget more closely aligned with the residential and business community, whose growth is not as significant.

The level of spending growth that the city has allowed is not financially sustainable for its tax base; this as evidenced by new tax increases. Incomes for residents and businesses are not growing at seven or nine per cent a year, yet over the past decade the city’s budgeted expenditures have grown at this rate. In 2000, the city’s budget was $105 million, and it reached $224 million for 2011.

To understand the seriousness of the issue, it’s important to look at what’s happening here and abroad. Over the past decade, St. John’s was near the bottom in population growth and was last in inflation in Atlantic Canadian cities. But had the highest budget growth rate; St. John’s budget grew at three to four times that of inflation.

According to Statistics Canada and City of St. John’s data, the population of the capital region (St. John’s and environs) grew about 8.5 per cent over the past

decade. Additionally, the City of St. John’s 2000 annual report indicates that there were 3,609 business occupancies in the city; a February 2010 City Economic Update indicates that St. John’s had 3,535 business occupancies.

Taxes have nearly doubled – from $67.5 million in 2000 to $130.3 million in 2011 – and water tax and sales have more than tripled. The Board will continue to push for solutions, including preparing for a 2012 budget capped at $224 million, a strategy that enables the city to return to budget growth that is tied to inflation over three years, and (as outlined in the city’s strategic plan) exploring more private sector partnerships.

Eliminating the payroll tax The provincial payroll tax, applied to organizations with payrolls over $1 million, taxes job growth and wealth creation. While it brings in significant funds for the provincial treasury, there may be ways to eliminate this ‘tax on jobs.’ An experiment in Finland reduced payroll taxes by 4.1 per cent on average in one region of the country. Though a small number of companies were affected, the results showed some positives: half of the effect of the reduction on labour costs was offset by faster wage growth. A rise in employment by 1.3 per cent was also observed.

In Chile, the payroll tax dropped 25 per cent over six years. The reduced cost of payroll tax appears to have fully passed on to workers in the form of higher wages, with little effect on employment. Spanish reform in 1997 reduced the payroll tax 40-90 per cent. The reduction in payroll tax increased the number of permanent contracts and helped convert temporary to permanent contracts.

Estimates also suggested that the reform increased permanent employment probabilities for young to middle-aged workers.

to a sustainable economy is a diversified economy. We must ensure our economy’s sustainability is not dependent on a single commodity. By creating greater diversity, we can reduce volatility and secure a more vibrant future.

Booz & Company, a leading global management consulting firm, has shown the strong link between economic diversity and sustainability. Their analysis reached a number of conclusions: • • • •

Poor economic diversity is linked to low productivity and competitiveness High economic concentration leads to volatile growth and fluctuating economic cycles Volatility in concentrated economies may spawn structural unemployment issues External trade (exports of goods and services) helps reduce economic volatility

The path to achieving economic diversity includes: •

• •

•

encouraging the movement of labour and capital into productive economic sectors, as well as the development of new knowledge and technology fostering growth by exporting a wide range of high value-added goods and services internationally enhancing productivity and competitiveness by enhancing human and financial capital, technology, and knowledge to entrench innovation, which allows economies to create economic value from scratch creating clear diversification strategies and mechanisms to guard against economic volatility and other business cycle challenges

In-depth: The need for economic diversification The Board has consistently expressed the need for economic diversity in the province. Our message is simple: the key

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January 2011

Business News

Feature bang for your buck How to get great value for your advertising dollar

a new location, make that your headline.

The more focused the message, the better your success rate will be.

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Is your advertisement a good ambassador for your company?

You’ve gone to the trouble and expense of booking an ad, so be sure to go the next step and opt for a professional presentation.

If it’s a print ad, make sure you’re using high resolution graphics and that your text is both meaningful (see “what are you advertising?”) and concise. If it’s a radio or television ad, use professional voiceovers and video where appropriate. This can be produced either in-house (if you have the capability), in consultation with the media outlet in question (many include production services), or you can opt for the coordinated expertise of an advertising agency.

dvertising is one of the least understood but most necessary business expenses. You want it, your company needs it, but is it really working the way you think it should?

Ask yourself the following questions to help assess and improve your advertising decision making process.

Why are you advertising?

Or, to put it another way, what do you want to accomplish? Are you trying to create brand awareness so that potential clients know who you are and what you do? Or are you trying to attract customers to a specific product sale? Knowing why you are advertising and what you want to accomplish will determine which type of media venue to use as well as the content of your ad.

Where are you advertising?

You have to choose an advertising venue whose audience matches yours. Businessto-business brand awareness and high-end product sales are best suited to a media outlet with corporate appeal (such as a business magazine), whereas clothing retail sales for young adults and teens would work better on a social media site or FM radio station. Other considerations include: COST (what’s the CPM or cost per thousand viewers/readers); AUDIT (demand proof that this media has the audience they say they have, don’t take a salesperson’s word for it); and, VALUES (does this media outlet share your environmentally-friendly corporate values, such as Forestry Stewardship Council certification?).

Remember: advertising does work, but only if you work at it. To paraphrase one of my clients: It works when you have the right ad, for the right audience, in the right venue. If you fail to plan, you’re only planning to fail – and none of us can afford to throw money away.

Linda Bidgood is a senior corporate account executive with Atlantic Business Magazine. She has more than 10 years experience in print advertising sales.

What are you advertising?

Many times, business owners try to make use of every single line of space in their advertisement, and do themselves a disservice in the process. Unless you’re promoting a new hire, or celebrating a milestone anniversary, your management team and corporate history have no place in your ad. If you’re selling a product, focus on that product. If you’re promoting Business News

January 2011

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Lead Today FOR THE BEST TOMORROW

Photo by Kevin Kroeker – www.ontherockphotography.com

Experience an event that unites business leaders. Build your knowledge and your network at two distinct business events – the annual Outlook Conference and Trade Show. Information and opportunities you need to hear about! Book your tickets today.

Contact Wanda Palmer at 726-2961 ext.9 or email events@bot.nf.ca.

DESIGNED & PRODUCED

Outlook Conference

Thursday, January 20, 2011 Delta St. John’s Hotel and Conference Center 8:00am – 4:00pm Outlook will feature presentations from leading experts on business trends, opportunities and challenges for your organization in 2011 and beyond. The conference gives you the information you need to lead for the best tomorrow.

Dr. Linda Duxbury

Some of our Keynote Speakers Include: • Dr. Linda Duxbury - Professor, Sprott School of Business • Dr. Warren Jestin - Senior Vice-President and Chief Economist, Scotiabank

Dr. Warren Jestin

• Don Mills - President & CEO, Corporate Research Associates Inc. • Honourable Tom Marshall - Minister of Finance, Government of Newfoundland and Labrador • Alan Brown - Vice president, East Coast, Suncor Energy Inc. Don Mills

Leadership Panel: • Vickie Kaminski - President & CEO, Eastern Health • Earl Ludlow - President & CEO, Newfoundland Power • Emad Rizkalla - President & CEO, Bluedrop Performance Learning

Tom Marshall

Visit us online at www.bot.nf.ca for updates on our exciting speakers featured at this year’s Outlook Conference.

Tickets are $225 (non-member rate) and $175 (with member discount) for this full day event.

To reserve your seat, contact Wanda Palmer at 726-2961, ext.9 or events@bot.nf.ca.

Alan Brown

Trade Show

Thursday, January 20, 2011 Main Ballroom and Crush Lobby 10:00am – 5:00pm

Vickie Kaminski

The Trade Show is a great opportunity to showcase your products and services to decision makers in the St. John’s business community.

Booth space runs out fast, so make sure you book now! Register for the early bird rate before November 30, 2010. Prices vary by size and location.

Earl Ludlow

Contact Margie Davis at 726-2961, ext.2 or mdavis@bot.nf.ca to book today.

This is a one day event you don’t want to miss. Book your tickets today!

SILVER SPONSORS

Emad Rizkalla

Feature free advertising?

It’s been said that the best advertising is word of mouth.

S

ocial media tools available today allow businesses and their loyal customers have their say, but louder and to a broader audience.

Whether it’s using Twitter to talk up a special promotion, Facebook to get customer feedback or LinkedIn to get to know your colleagues or competitors, social media is changing the way many companies market themselves.

Heather Dalton, senior vice-president of M5i, says the first thing to do when you start using social media is to decide what you want to use it for, then you can decide what’s the best outlet to start with.

Most people think of social media as

“ ” Nearly 50 per cent of the population over the age of 13 are using Facebook in Newfoundland and Labrador.

specific websites, she says, when it’s really more of a philosophy of creating dialogue with your customers through social media.

When you select certain social media tools you also have to consider your market, Dalton says, adding that Facebook, for example, is ideal in Newfoundland and Labrador.

“It has great power because you’re building relationships,” she says.

Nearly 50 per cent of the population over the age of 13 are using Facebook in Newfoundland and Labrador.

Facebook has been such a success here because it’s a user-friendly tool for people to connect either casually or intensely through multiple mediums including e-mail, instant messaging and wall posts.

Though if your company has some expertise in video production, provides many how-to videos or are promoting some sort of tourism destination, for 14

example, YouTube may be the outlet for you, Dalton says.

Then, you have to put in the time.

“I think social media really is a place where you can have a lot of impact, but you have to be willing to commit the time,” Dalton says.

Alison Stoodley, owner and operator of Social Media Management, teaches several classes about using individual social media tools, though she focuses on Facebook.

“There’s hundreds of tools truthfully,” she says, agreeing that there’s a time commitment to using them wisely. “You have to be consistent you need to offer something of value.”

Stoodley reminds business owners that they can’t assign social media to the IT department – that it should become part of the best sales person’s routine or the best communicator’s day.

“Social media is about communication … it’s the marketing people, the sales people, the people who are the best talkers, the people who are engaging in real life who are the most engaging in social media.”

She suggests sending out information to followers at least three times a week, but to remember to engage the audience.

“People don’t care what you had for lunch unless you’re recommending a phenomenal restaurant,” she says.

Get your friends to come and have a look at your Facebook page or re-tweet from your Twitter feed, they may not be ready to buy your product, but they probably have friends who will, Stoodley says.

Word of mouth advertising works because of a level of trust, she says, and that can be acheived through even the most casual online friends.

-Alisha Morrissey January 2011

Thanks for your referrals!

Brad Colbert RE/MAX Realty Specialists Linda Evans Morneau Sobeco

Your referrals helped us surpass our goal of 800 members in 2010.

Sponsored by

Referral Rewards Program Business News

Keeping Current business excellence awards This year’s Business Excellence Awards were a huge success for the St. John’s Board of Trade, its members and volunteers. We’d like to congratulate all the winners and thank everyone who made it happen.

The recipients of the 2010 St. John’s Board of Trade Business Excellence Awards are: • Business Excellence Award: The Holiday Inn • Contribution to Community and Community Service (50+ employees): CIBC • Contribution to Community and Community Service (less than 50 employees): Coast Broadcasting Limited • Growth in Domestic/Export Market: Telelink Call Centre Inc. • Customer Service and Reliability: The Holiday Inn • Marketing and Promotional Achievements: Newfoundland Labrador Liquor Corporation • Productivity and Quality Improvements: Dynamic Air Shelters • Innovation: Jumping Bean Coffee Company • New Start Up: Newfoundland Chocolate Company • Business Person Volunteer of the Year: Anne Squires ALL PHOTOS BY ALISHA MORRISSEY

Jeff Ledrew, owner of Jumping Bean Coffee, told everyone to buy local when he gave an excited speech after being handed the Innovation Award.

Sharon Sparkes, senior vice-president and CFO or the Newfoundland and Labrador Liquor Corporation, accepted the Marketing and Promotional Achievements Award

Andy Newman of Coast 101.1 gave MC Brian O’Connell a big handshake before accepting the award for Contribution to Community and Community Service (under 50 employees).

Kay Riggs, vice-president of operations for Dynamic Air Shelters, was genuinely shocked to have won the Productivity and Quality Improvements Award and said so in her speech.

strategic public affairs counsel Offering 18 years experience in issues management, strategic communications planning, media relations, media training, crisis communications and emergency response. Learn more at www.cathydornan.com.

Anne Squires, the franchisee and owner of Exit Realty, was emotional when named Business Person Volunteer of the Year.

Business News

tel: 709.685.3875 email: cathy@cathydornan.com web: www.cathydornan.com

January 2011

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Keeping Current business excellence awards

Mark McGuire, CIBC’s associate vicepresident NL, accepts the Contribution to Community and Community Service (50+ employees) Award.

Brenda Madden, owner and operator of Balance Rehabilitation Clinic, accepts acknowledgement that she’s the Board’s 800th member.

General manager of The Holiday Inn, Norman Van De Spiegle, accepted the Business Excellence Award – the crowning acheievement of the annual event – as well as the Customer Service and Reliability Award.

Chief chocolate officer, Brent Smith’s speech got plenty of laughs as he accepted the award for New Start Up.

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January 2011

Charlie Reid, of Telelink - The Call Centre Inc., accepted the award for Growth in Domestic/Export Markets.

Business News

Keeping Current around the board The thing we heard most after December’s luncheon - where Nalcor’s Ed Martin told nearly 300 Board members how the power company plans to transmit hydroelectricity from Muskrat Falls to the Maritimes and Eastern Seaboard - was how easy it was to understand the deal with Emera. Martin was a great speaker with a ton of information about the power deal and subsea transmission which he described as a “game changing link for us.”

Your Board staff spent a morning leading up to the holidays at the Community Food Sharing Network warehouse on Topsail Road, packing food items from the Santa Clause Parade to be sent all over the province. There are 50 food banks in Newfoundland and Labrador that help the more than 32,000 people here who don’t have enough to eat.

Board members have been helping out with cash donations. Recently Statoil donated $10,000 and The Co-Operators donated $5,000 to the Community Food Sharing Network.

- WIN NEW CLIENTS - SELL MORE PRODUCT - MAXIMIZE MARKETING BUDGET

ADVERTISE WITH ATLANTIC BUSINESS MAGAZINE! GET FREE SUBSCRIPTION AT ATLANTICBUSINESSMAGAZINE.COM For attentive service and advertising that works: Linda Bidgood, tel: 709 726-9300, ext. 222 email: lbidgood@atlanticbusinessmagazine.com

47 Harvey Road, St. John’s, NL A1C 2E9 t: (709) 754 4538 f: (709) 754 4427 e: info@jumpingbean.ca

St. John’s Board of Trade Business Excellence Award in Innovation 2010

Business News

January 2011

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Keeping Current around the board

Derek Sullivan, chair of the Board (left), chats with former chair Bruce Templeton (right), and Des Whelan, president and CEO of Keyin College over some McDonald’s beverages.

Cathy Bennett, owner and operator of the Bennett Group of Companies, got to show off the most recent renovations of one of her McDonald’s restaurants at one of our business mixers.

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January 2011

Business News

Feature a peek at outlook 2011 This year’s business summit is shaping up to be a don’t miss event

L

ater this month some of the best and brightest business minds will be in one room, offering advice and taking questions.

Speakers including the engaging and informative Dr. Linda Duxbury, local IT pioneer Emad Rizkalla and Suncor’s top man in Atlantic Canada Alan Brown, will all take the stage at the one-day Outlook conference.

Linda Duxbury This year’s theme is Lead Today for the Best Tomorrow, and is showcased in the prestigious leadership panel, being led by Vickie Kaminski, president and CEO of Eastern Health, Earl Ludlow, president and CEO at Newfoundland Power and Emad Rizkalla, president and CEO of Bluedrop Performance Learning.

Duxbury, a professor at the Sprott School of Business at Carlton University and a noted pioneer in the area of organizational health, is coming to the province specifically for the conference.

A chemical engineer with a doctorate in Management Sciences from the University of Waterloo, Duxbury is best known for her Business News

candid and sincere speaking style, based on her research on a range of topics like the effects of demographics on employment and work/life balance. She’s given more than 350 plenary talks on these and other issues.

Most recently, Duxbury is doing research evaluating the impacts of e-mail, portable offices, cellphones, BlackBerry’s, telework, flexible work arrangements and their impact on the individual and the organization.

Duxbury has won dozens of awards for her work, but also the effective way she presents complicated concepts to large audiences.

Other speakers throughout the day will be Dr. Warren Jestin, senior vice-president and chief economist at Scotiabank, perennial favourite Don Mills, president and CEO of Corporate Research Associates, and provincial Finance Minister Tom Marshall.

The conference, which will be held on Jan. 20 at the Delta Hotel, will also play host to our always popular trade show. The trade show allows local business owners to showcase their products and services to a diverse cross-section of the business community.

Booths are already 85 per cent sold out. To book your booth now contact Margie Davis at 726-2961, ext. 2 or mdavis@bot.nf.ca To get a sneak peek of our keynote speaker Dr. Linda Duxbury check out the website http://tinyurl.com/2fyexfc or you can also visit www.conventionconnection.net and search Linda Duxbury.

January 2011

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Membership members in the news Business Excellence Awards a success

Paul Thomey

Alisha Morrissey

Welcome aBoard

municipal affairs reporter and web editor.

At the Board Alisha has assumed the role of Policy Research Analyst and will work mostly in an advocacy and research role.

She will also be the new editor of Business News.

Paul Thomey steps in as CEO of the St. John’s Board of Trade on an interim basis for 2011. Members will recognize Paul as a past-president with the Board, serving as its volunteer leader in 2003. Paul was executive director of the Newfoundland and Labrador Lung Association when power walls were banned from stores in an effort to reduce smoking rates in the province. He also owns That Pro Look in the Avalon Mall, which he operates with his wife Gleniss. Also joining us is Alisha Morrissey. Alisha comes to us from The Telegram, where she served dual roles as a

Featured sponsor of the month Refer a member by January 15 and receive a $25 Empire Studio Gift Card, courtesy of Convergys

726-2961 | info@bot.nf.ca

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Referral Rewards Program January 2011

On Dec. 8, the St. John’s Board of Trade hosted its 18th annual Business Excellence Awards at the St. John’s Convention Center. The event – which included an address from Bob Innes (founding president of the St. John’s Board of Trade) and the formal announcement of Business Excellence Awards in 10 categories – was touted a remarkable success by our members.

The Board congratulates all of the winners and would especially like to thank and congratulate our volunteers for helping the event run so smoothly, from beginning to end. Without the support of our volunteers, events such as the Business Excellence Awards would not be possible.

Just outside the Convention Centre, past chair Bruce Templeton met four of the first presidents of the St. John’s Board of Trade, who were picked up and brought home from the awards via the generous donation of a limousine ride by Memories Forever

Executive Limousines & Suites. From left: Bruce Templeton, Andrew Crichton, Bob Innes, William Neal and Burford Ploughman.

Board of Trade members recognized for powerful leadership The St. John’s Board of Trade congratulates Nora Duke, president and CEO of Fortis Properties and Leslie Galway, CEO of WHSCC for being named among the Top 100 Most Powerful Women in Canada. Presented in November at the 2010 Awards Summit and Gala by the Women’s Executive Network, this prestigious honour celebrates women who are proven achievers in the private, public and not-for-profit sectors for 2010.

Continued on page 21...

Business News

Membership members in the news Grand Bank-based Dynamic Air Shelters and Memorial University’s Distance Education and Learning Technologies were presented with the Innovation in Business and Distinction in Innovation Awards respectively.

Pinchin LeBlanc Environmental Ltd. welcomes new partners Ron LeBlanc, president of Pinchin LeBlanc Environmental Ltd. is pleased to welcome Paul Staeben and Jason Lewis into partnership. Since establishing in St. John’s in 1993, both Staeben and Lewis have been instrumental in the management, development and expansion of the firm’s operations in the region.

The firm, has six locations throughout Atlantic Canada, four in Newfoundland and Labrador. All 17 staff members are from the region and share in the same long-

UPCOMING EVENTS Business Outlook Conference and Trade Show Paul Staeben term goals of living and working here and providing a quality service to its clients.

The firm is known for its expertise in providing services related to hazardous materials in buildings, environmental site assessment, remediation, building sciences, indoor-air quality and workplace chemical exposure issues.

Board members are leading innovators and exporters in province Board of Trade members were recognized among Newfoundland and Labrador’s top innovators and exporters at the provincial government’s annual Export and Innovation Awards.

Jason Lewis

This year our annual tradeshow and conference is themed “Lead Today: For the best tomorrow�

Where: Delta St. John’s Hotel and

Conference Centre When: Jan. 20, 2011 Time: Conference 8 a.m. to 4 p.m.

tradeshow 10 a.m. to 5 p.m.

Cost: Non-members $225

Members $175 Chair’s Inaugural Reception Come help us usher in a new Chair and have a drink with our outgoing Chair.

Where: Sheraton Hotel Newfoundland When: Jan. 26, 2011 Time: 4:30 to 6:30 p.m.

Cost: Included in membership

Organize your organization.

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Business News

January 2011

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Membership MEMBER PROFILES A Step Ahead Event Planning & Marketing is a Newfoundland and Labrador owned “business” event planner. Our main objective is to work with and enable businesses, forprofit and non-profit organizations host their event with minimal stress and maximum success. We offer fulltime, full-service event planning and marketing expertise. The strategies and techniques we use result in growth, consumer engagement, recognition and financial success. Our five-year track record is testimony to this claim.

In addition to helping you achieve your goals, we strive to ensure you and your staff continue to focus on your business, while we handle the business of planning your event. In the B2B world, we are your “competitive advantage.” …..the next step is yours….

Personal Best is a private fitness studio, owned & operated by ISSA Certified Fitness Trainer, Andy Pratt.

Personal Best has a team of qualified trainers carrying out the Personal Best mission of providing personal attention, motivation and education to help you reach your Personal Best!

Personal Best has helped over 1,000 people with customized diets & training programs and offers private & semiprivate training, including classes designed for women. Whether your goal is to lose weight, build muscle, enhance your conditioning, or any other fitness goal, Personal Best can help!

A 30-year old company known for its botanically-based, anti-aging skin care and wellness products & results oriented business opportunity. Through a dynamic and motivated team of independent consultants, we are growing at an unprecedented rate. Minimal start up fees, free online training and one of the most generous compensation plans in the industry make it a viable alternative to those seeking time and financial freedom. There are no territories and you can build your business alongside your current profession.

Our vegan-certified, hypoallergenic products are free of dyes, chemical fragrances, parabens, mineral oil and PABA. www.fortheloveof.myarbonne.ca

Since 1987, Kwik Kopy Design and Print Centre has been helping companies on the Northeast Avalon and beyond with their business communication needs. We have grown, from developing and producing a basic business package of stationery and forms, to now designing and producing items in and on a variety of media to meet today’s business needs.

We are currently in the process of installing a digital press to better meet our customer’s needs.

This new state of the art equipment will allow us to quickly produce a consistently high quality product for today’s market.

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Please call 753-0303 or visit www. personalbeststudio.ca for the latest fitness and nutrition tips and Personal Best’s FREE Newsletter.

January 2011

Pinchin LeBlanc Environmental is a proud Atlantic Canadian Company established in 1993. We maintain strong, formal ties with the other Pinchin Group companies allowing us to service our national client needs.

The firm has a solid reputation for providing technically sound, practical and cost-effective solutions to environmental issues. Our services are provided to a wide spectrum of clients including private sector developers and property owners, heavy industry (such as pulp and paper, oil and gas, power generation), and the public sector including all levels of government and all types of institutional owners. The firm maintains COR with the NLCSA and is registered with PEG Professional Engineers and Geoscientist of NL.

Business News

Membership new members Northgate Arinso Paul Churchill, Operations Director 430 Topsail Road St. John’s, NL A1N 4N1 P: 757-7016 paul.e.churchill@northgatearinso.com

Van Houtte Coffee Services LP Dean Madden, Territory Manager 42 Oxford Crescent Mount Pearl, NL A1N 2X7 P: 745-5704 dmadden@vanhoutte.com

St. John’s International Women’s Film Festival Anita Reilly McGee, Executive Director 28 Cochrane Street St. John’s, NL A1C 3L3 P: 754-3141 F: 754-0049 anita@womensfilmfestival.com

Eastcom Inc. Richard E. Budden, Owner / Operator 978 Topsail Road Mount Pearl, NL A1N 3K2 P: 682-2355 (cell) F: 737-0906 richardbudden@eastcom.ca

Hickey’s Enterprises Len Hickey, Owner 782 CBS Highway Kelligrews, NL A1X 3A8 P: 227-7217 F: 227-7217 lhickey@eastlink.ca

Prima Information Solutions Inc. Patsy Tremblett, President & CEO 11 Austin Street St. John’s, NL A1B 4C1 P: 739-0765 F: 753-1005 patsy@primaharmony.com

Business News

January 2011

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Membership new members Holistic Hypnosis Centre Joan Corcoran, Consulting Hypnotist P: 685-9808 joancorcoran.hypnosis@gmail.com

Heartsafe EMS Inc. Glenn Burke, President 159 Victoria Street Bolton, Ontario L7E 3G9 P: 416-410-4911 F: 905-857-7312 gburke@heartsafe.ca

William J. O’Keefe Law Office Colin Sullivan, Associate 1973 Topsail Road Paradise, NL A1L 1Z4 P: 782-8588 F: 782-8599 c.sullivan@bellaliant.com

SpeedPro Signs (Division of AnnMar Holdings Inc.) Ann Mercer, Director 28 Allston Street Mount Pearl, NL A1N 0A4 P: 747-1988 F: 747-2022 annm@speedpro.com

Newfound Housing Solutions Ltd. Dan Redlack, Partner 38 Pearson Street, Suite 332 St. John’s, NL A1A 3R1 P: 743-1391 F: 383-0111 daniel@newfoundhousingsolutions.ca

Atlantic Oilfield & Industrial Supply Bruce Cluett, Branch Manager 84 Glencoe Drive Mount Pearl, NL A1N 4S9 P: 745-7545 F: 745-7548 bcluett@atlanticoilfield.com

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January 2011

Business News

t a r g n o C

! s n o i t a l u

ST. JOHN’S

2010 Business Excellence Award It’s a point of pride when others recognize the customer service excellence we see on a daily basis. Congratulations to our team at Holiday Inn St. John’s, and thank you for your commitment and dedication.

Owned and Operated by: